NIB launches 55th Anniversary Celebration

The 55th Anniversary Celebration of the National Investment Bank (NIB) was launched on Monday, 19th March 2018 at the Swiss Spirit Alisa Hotel with the theme “55 Years of Growing Ghanaian Businesses.” The anniversary LOGO was unveiled by the Special Guest of Honour, H.E. Dr. Mahamudu Bawumia, Vice President of the Republic of Ghana assisted by the Board Chairman of NIB, Togbe Afede XIV. Other dignitaries including the Hon. Minister for Finance, Ken Ofori Atta, MDs and CEOs of various organizations, key customers and ex-staff were present to witness the launch.


In his welcome address, Chief Executive Officer of the Bank, Dr. John Kweku Asamoah said, the Bank has undergone institutional, managerial and financial restructuring and transformation which has made the bank very formidable in the industry. He added that NIB has chalked significant successes since the outdooring of the three (3) year Strategic Plan (2015–2017) which has fast-tracked the growth of the Bank, making it more competitive and meeting customer expectations.

 

On his part, the Board Chairman, Togbe Afede XIV paid glowing tribute to former staff, board and management of the Bank saying, NIB would not have been where it is today but for their immense contributions. Commenting on the Bank of Ghana’s recent directive for Banks to recapitalize to GHC400million by the end of 2018, Togbe Afede XIV assured customers and stakeholders that “efforts are underway to meet this requirement, and it will be met.” He further said that, the recent Supreme Court’s unanimous decision of 7-0 dismissing a review application filed by the Dominion Corporate Trustees Limited against NIB, “brings finality to an eight-year old case in which Dominion Corporate Trustees Limited was claiming over $120 million in judgement debt from the Bank. He thanked all stakeholders of the Bank for making the launch of the 55th Anniversary possible.

 

Delivering the keynote address, Dr. Mahamudu Bawumia lauded the bank for the remarkable gains made over the 55-year period, supporting the sustenance and growth of the economy. He was especially pleased with the Bank’s efforts at keeping with the time as it opens its 55th Branch at Teshie. Dr. Bawumia congratulated the Board, Management and the Legal team of NIB for the recent victory at the Supreme Court saying it was a major milestone “as it threatened the very existence of the Bank. He also commended the Bank for remaining resolute and growing steadily over the years inspite of the challenging nature of the Ghanaian economy. He however, expressed hope that the challenges faced by the economy would soon be addressed to bring relief to the financial sector and its customers.

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